Cryptocurrency markets are pulling back on Friday morning as traders lock in profits following Bitcoin’s rally.
Notable Statistics:
- Coinglass data shows 102,639 traders were liquidated in the past 24 hours for $203.29 million.
- SoSoValue data shows net outflows of $163 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $213 million.
Trader Notes: Crypto trader Moustache aka El Crypto Prof noted BTC has reclaimed a 2-year trendline, historically a trigger for broad market rallies.
#Bitcoin $BTC did it again‼️
A reclaim of the trendline that has been in place for 2 years.
The last time this happened, we saw a strong rise for the entire crypto market in the following weeks.👀 pic.twitter.com/Z4SCNSqbyr
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